Asian stocks were back in record-setting mode Wednesday, paced by a rally in Samsung Electronics Co. and Honda Motor Co., as investors judged stronger U.S. home-sales data and falling crude-oil prices as positive for the growth outlook in the region's most important export market.
In Tokyo, the benchmark Nikkei 225 index rose 300.04 points, or 1.74 percent, to finish at 17,544.09 while Hong Kong's Hang Seng Index rose 207.01 points, or 1.03 percent, to 20,209.71.
Technology, auto and electronics shares advanced. Gainers included Tokyo Electron Ltd., which rose 1.68 percent to 8,470 yen (US$71.18), Nissan Motor Co., which climbed 1.90 percent to 1,289 yen (US$10.83), and Matsushita Electric Industrial Co., which posted a 2.07 percent gain to 2,465 yen (US$20.71).
Banking issues also gained ground, with Mitsubishi UFJ Financial Group Inc. adding 1.47 percent to 1.38 million yen (US$11,596.63).
Elsewhere:
BANGKOK: Thai shares rose 1 percent to 693.54, advancing for the fifth consecutive day to their highest closest level in five weeks, boosted by buying in banking blue chips amid regional gains.
JAKARTA: Indonesian shares added 1.4 percent at a fresh record high of 1,922.05, on capital inflows ahead of expected Bank Indonesia rate cut Thursday.
KUALA LUMPUR: Malaysia's key stock index rose 1.2 percent on buying spurred by Wall Street's strong gains overnight. The Kuala Lumpur Composite Index of 100 blue chips climbed to 1,271.31 points.
MUMBAI: Indian shares closed higher, taking cues from an upbeat Wall Street, with technology shares leading gains. The Bombay Stock Exchange's 30-share Sensex index rose 162 points, or 1.3 percent, to 12,787 points.
SEOUL: South Korean shares rose to a record, led by Samsung Electronics Co., Korea Electric Power and shipbuilders. The Korea Composite Stock Price Index rose 19.66 points, or 1.3 percent, to 1,483.86, the highest since Feb. 26.
SHANGHAI: Chinese stocks posted a record close, buoyed by gains in port operators and power producers, although profit-taking in some heavyweights capped the market's rise. The benchmark Shanghai Composite Index closed at a record 3,291.54, up only 0.01 percent.
SINGAPORE: Singapore's shares rallied to close at a new record high, with investors snapping up market heavyweights like Singapore Telecommunications after Wall Street rose strongly and oil prices eased overnight. The benchmark Straits Times Index climbed 44.56 points, or 1.4 percent, to 3,332.92.
TAIPEI: Taiwan shares rose to its highest in 6 1/2 years, helped by strong overnight gains on Wall Street. The Weighted Price Index of the Taiwan Stock Exchange gained 71.70 points, or 0.9 percent, to close at 8,004.61 points, the highest since August 2000.
WELLINGTON: New Zealand stocks coasted to a third straight higher finish and traders expect the local bourse to hold recent gains going into the Easter break. The benchmark NZX-50 index rose 12.7 points, or 0.3 percent, to 4,187.98.
SYDNEY: Australian stocks hit record highs Wednesday, boosted by a strong lead from United States markets, takeover activity and the central bank's decision not to lift interest rates. The benchmark S&P/ASX200 index rose 83.8 points, or 1.4 per cent, to a record close of 6.097.2, surpassing the previous record finish of 6,036.1 set on Feb. 23.
With files from wire services
